Stories from the trenches, by a fictional hiring partner at a large law firm in a major city.

Tuesday, June 08, 2004

A summer associate got hit by a car tonight. Nothing terribly serious -- a couple of scrapes and bruises, but nothing's broken and he's fine. But it's on the firm's conscience. We organized a downtown scavenger hunt for the summer associates -- hired an outside firm to plan this thing, a lot of the firms do it -- take your picture in front of these five famous buildings, get a takeout menu from this spot, find a certain famous person's house. Stuff like that. And crossing the street, racing to the end, one summer associate stepped into oncoming traffic and... whoops. One of his team members called 911 and then called the recruiting coordinator; once he got to the hospital, they called me; and now a bunch of us are on a conference call while the rest of the summer associates are at dinner at a top-notch restaurant. There's always the fear that these boondoggle events will backfire somehow -- someone will get food poisoning, someone will have an allergic reaction, someone will get killed in a random drive-by shooting. And so now we have to re-evaluate, especially if this kid sues us. We did, after all, tell them to run fast, and the first place team wins a prize, and all that stuff. There's a case to be made. Not a great one, but still. It was on our watch. We should keep them locked up in the offices. It's not like they won't do anything for an offer anyway. We expend all of this energy trying to "sell" them on this place, but for a lot of them the energy they'd need to find another firm to hire them is enough that we can do anything we want, say we do it because we're better than the other firms, and we'll get them back. It's all in how we pitch it. "Working late is prestigious" ; "Lunches are for wimpy lawyers" ; "Stapling packets of paper is the most critical work we do."

You don't recruit at the local middle school, do you? I am constantly amazed that I have classmates with the mentality of frat boys and the female equivalent. Still, anyone with 19 years of education (not counting kindergarten) should have been able to avoid stepping into oncoming traffic. Hopefully the previous comment will ring true, and Summer Asociate will keep what little wit he has about him and worry more about how his stunt looks to the partners than instigating a lawsuit. Just pass the story/warning on to future summers and continue the activities. Curious: what is the point of the games?

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Computer NewsYahoo Boasts Size of Its Search Engine Index

Trying not to include any phallic analogies, Yahoo this week announced that its overall search engine index is much larger than Google’s and is the most in depth index of ‘web objects’ on the search market. On the Yahoo Search Blog, Yahoo disclosed that its index now includes 19.2 billion web documents, 1.6 billion images and more than 50 million audio and video files - over 20 billion items.

Yahoo is usually shy about disclosing the size of its search index, but the Yahoo Search Blog is celebrating its first year anniversary and Tim Mayer thought that somewhat of a retrospect was in order - since Yahoo has grown into its own as a search engine powerhouse over the past 365 days.

From the YSearchBlog : While we typically don’t disclose size (since we’ve always said that size is only one dimension of the quality of a search engine), for those who are curious this update includes just over 19.2 billion web documents, 1.6 billion images, and over 50 million audio and video files.

Note that as with all index updates we are still tuning things so you’ll continue to see some fluctuation in ranking over the next few weeks.

Greg Sterling of the Kelsey Group, however, makes the distinction of quality over quantity What I, Joseph User, care about is accuracy, quality and relevance. The available index does matter in terms of bringing me a sufficient quantity of results. (And if I’m looking for something really obscure, having that thing in the index is obviously important, which may go to size.).

But there’s a major case of diminishing returns—there’s already way too much information online for people to assimilate. Throwing more volume at me does nothing but make my eyes glaze over. What I want is enough relevant results.”

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How do Government SBA Small Business Loans work?

When a small business owner applies to a lending institution for a business loan, the lender reviews the application and decides if it merits a busiuness loan or if it requires an SBA guaranty. SBA backing on the business loan is then requested by the lender. In guaranteeing the business loan, the SBA assures the lender that, in the event the borrower does not repay the loan, the government will reimburse the lender for its loss. By providing this guaranty, the Small Business Administration helps tens of thousands of small business owners get financing they would not otherwise obtain.

How much money can I borrow?

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7(a) Loan Guaranty Program

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Low Documentation Loan (SBALowDoc)

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SBAExpress

This method makes it easier and faster for lenders to provide small business loans of $250,000 or less. The SBA provides a rapid response through its PLP processing center in Sacramento, Calif.— within 36 hours of receiving the complete application package. Lenders use their own procedures to approve and service the loans.

CommunityExpress

The CommunityExpress pilot program is designed to spur economic development and job creation in untapped rural and inner city communities by providing loans and technical assistance. Loan proceeds may be used for most business purposes, including start-up, expansion, equipment purchases, working capital, inventory or real-estate acquisitions.To be eligible for CommunityExpress, current or prospective small businesses must be located in low- and moderate-income urban and rural areas.

While CommunityExpress is similar to SBAExpress, here are some differences:

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7(m) Microloan Program

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